The Nasdaq climbed 0.5%, while the S&P 500 and the Dow Jones industrial average each added 0.3%. Volume fell on both major exchanges, according to preliminary data.

The European Central Bank lowered its outlook for the eurozone's economy. The midpoint of the ECB's range now predicts a GDP contraction of 0.3% next year. In its previous forecast, the ECB predicted growth of 0.5%.

Lululemon Athletica (LULU) staged a fierce upside reversal, moving from a 3% loss to a 7% gain in six times its usual volume. The yoga-themed fitness-wear retailer reported quarterly EPS up 44% vs. the 37% consensus estimate. Revenue climbed 37% to $315.6 million, well above the $302.3 million estimate.

The company tamped down fourth-quarter sales expectations into the high single digits, compared with a 26% gain in same-store sales in Q4 last year.

The stock had been bouncing between support at its 200-day line and resistance at its 50-day line amid attempts to fashion a late-stage base.

Akamai Technologies (AKAM) sprinted ahead 10% after announcing an agreement with AT&T (T) to jointly market content delivery network services to corporate clients. Akamai, a leader in the software-as-a-service market, said it would connect its CDN service to AT&T's network and combine technical support, marketing and other resources. The stock is building the right side of a base. AT&T shares ceded a fraction.

Qihoo 360 Technology (QIHU) rallied 3% in moderately above-average volume as it bounced back from two days of big losses. The comeback puts it back above a 24.40 buy point from a cup-with-handle base. Qihoo was up as much as 15% past that buy point Monday. The company launched its own Internet search engine in August, challenging Chinese leader Baidu (BIDU).

Starbucks (SBUX) rose 6% to its best level in more than four months on an upgrade. Robert W. Baird raised the coffee giant to outperform from neutral and upped its price target to 62 from 55. The stock is still nearly 14% off a 52-week high as a new base forms. On Wednesday, Starbucks said it plans to open an additional 1,500 stores in the U.S. over the next five years.

NCR (NCR) rose 4% and cleared a 24.74 buy point in a double-bottom base. Volume was tracking higher, but not at super-heavy levels. Prior to Thursday's rise, the stock had been trading in a tight range. NCR, which makes ATMs and point-of-sale systems, recently announced plans to buy Israeli software firm Retalix in order to expand into the retail industry.

Smith & Wesson (SWHC) rose 3% ahead of its fiscal Q2 results after the close. Analysts see the gun maker's earnings shooting up 380% to 24 cents a share. Sales are expected to jump 46% to $134.78 million. The stock is in a cup-with-handle base with an 11.03 buy point.

Ascena Retail Group (ASNA) fell 5% after reporting mixed quarterly results late Wednesday. The apparel retailer's fiscal Q1 earnings rose 18% to 39 cents a share, beating views by a nickel. Thanks to buyouts, sales surged 48% to $1.14 billion, a hair shy of analysts' views. Ascena reaffirmed its full-year guidance profit outlook of $1.45 to $1.55 a share vs. views of $1.56 a share. The stock is in a big cup-with-handle with a 22.28 buy point.

See Also

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